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Title: AP General Payment Policy (previously called Invoice Processing and Disbursements)
Subject: Accounts Payable
Policy No: FIN: 2014:06
Applies: University-Wide
Issuing Authority: President
Responsible Officer: Senior Vice President for Finance and CFO
Adopted: 01/24/2010
Last Revision: 10/29/2017
Last Reviewed: 10/29/2017
I. PURPOSE
This policy seeks to promote fiscal control, timely and accurate disbursement of funds for external purchases and reimbursements, and compliance with state and federal regulations.
This policy also provides guidance governing all payment and disbursements of University funds, except those for salaries and wages.
II. ACCOUNTABILITY
Under the direction of the President, the Senior Vice President for Finance and CFO shall implement this policy and the Executive Vice President, Senior Vice President and Provost, Vice Presidents, Deans, Directors, Department Directors and Supervisors shall ensure compliance with this policy.
III. APPLICABILITY
This policy is applicable to all employees, students, vendors and guests seeking reimbursement for necessary and reasonable non-compensation business expenses. This policy also affects every individual who reviews, approves, or records financial transactions on behalf of the University.
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Attachment 10 - Wire Transfer Request Procedure
Attachment 1
Purchase Order Receiving Procedure
The Purchasing Module of Banner Finance requires a three-way match of a purchase order, on-line receiving and a vendor invoice before the payment process is begun. The department/office completes on-line receiving with the date the product is physically received or service rendered. (This is very important for determining the appropriate accounting period according to Generally Accepted Accounting Principles.)
Once items are physically received or services have been rendered from a requisition you have placed, you must enter Receiving information into Banner. The vendor will not be paid until this step has been completed.
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- In the Search field enter of the Banner Welcome page
Type FPARCVD
Enter
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- In the Receiver Document Code
Type Next
Go
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- Receiver Header can remain blank
Next Section
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- Packing Slip
Enter invoice number or initials and date (i.e. ABC102517)
Next Section
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- Purchase Order
Enter Purchase Order number
Tab confirm the correct vendor appear
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- Go up to tools and select Option Receiver All Purchase Order items or Select Purchase Order items
Next Section
Attachment 2
Three-Way Match
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